Meanwhile, PayPal acquires mobile payments firm Paydient.
WorldPay is the largest merchant acquirer in Europe and one of the largest globally.
HERMOSA BEACH, CA – December 10 2012 – Virtual Piggy, Inc. (OTC:VPIG) today announced that it has entered into a Strategic Partnership with WorldPay facilitating further expansion of the Virtual Piggy eCommerce service in the international marketplace.
Virtual Piggy allows parents to set up a monthly allowance for their children and promotes financial management, while empowering youth under 21 to make purchasing, saving and other money management decisions for themselves, within the boundaries setup by parents. Since its inception, Virtual Piggy has been designed to support transactions in over 100 different currencies.
WorldPay is the largest merchant acquirer in Europe and one of the largest globally, operating in more than forty countries, 120 transaction currencies and fourteen settlement currencies. Significantly WorldPay also supports more than 200 alternative payment solutions to eCommerce merchants worldwide.
“International expansion is a key focus for Virtual Piggy in the upcoming year,” said Dr. Jo Webber, CEO and Founder of Virtual Piggy. "Our partnership with WorldPay will ensure that the complex details of international payment preferences are addressed by our combined alternative payment and currency support.”
Phillip McGriskin, chief product officer, WorldPay said, “The eCommerce landscape is increasingly cross-border as consumers become accustomed to purchasing from merchants abroad. One of our strengths is providing merchants with the ability to process alternative payment types in multiple geographies. The under eighteen market represents the future of online shoppers and this group is increasingly willing to embrace the cross-border trend. The partnership with WorldPay and Virtual Piggy enables merchants to serve this market in a COPPA compliant way and maximize the revenue generating potential this offers.”